Wells Fargo 2015 Annual Report Download - page 226

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1
Note 17: Fair Values of Assets and Liabilities (continued)
(continued from previous page)
Table 17.5 presents gross purchases, sales, issuances and settlements related to the changes in Level 3 assets and liabilities
measured at fair value on a recurring basis for the year ended December 31, 2015.
Table 17.5: Gross Purchases, Sales, Issuances and Settlements – Level 3 – 2015
(in millions) Purchases Sales Issuances Settlements Net
Year ended December 31, 2015
Trading assets (excluding derivatives):
Securities of U.S. states and political subdivisions $ 4 (2) — (1)
Collateralized loan and other debt obligations 1,093 (1,203) — — (110)
Corporate debt securities 45 (45) — — —
Mortgage-backed securities — (1) — — (1)
Asset-backed securities — (5) — (9) (14)
Equity securities — — — (11) (11)
Total trading securities 1,142 (1,256) — (21) (135)
Other trading assets 4 (27) — (1) (24)
Total trading assets (excluding derivatives) 1,146 (1,283) — (22) (159)
Available-for-sale securities:
Securities of U.S. states and political subdivisions — (65) 555 (1,181) (691)
Mortgage-backed securities:
Residential — (22) — — (22)
Commercial — (8) — (22) (30)
Total mortgage-backed securities — (30) — (22) (52)
Corporate debt securities 200 (11) — (10) 179
Collateralized loan and other debt obligations 109 (325) — (355) (571)
Asset-backed securities:
Auto loans and leases — — — (264) (264)
Home equity loans — — — — —
Other asset-backed securities 141 (1) 274 (593) (179)
Total asset-backed securities 141 (1) 274 (857) (443)
Total debt securities 450 (432) 829 (2,425) (1,578)
Marketable equity securities:
Perpetual preferred securities — — — (24) (24)
Other marketable equity securities — — — — —
Total marketable equity securities — — — (24) (24)
Total available-for-sale securities 450 (432) 829 (2,449) (1,602)
Mortgages held for sale 202 (1,605) 777 (351) (977)
Loans 72 — 379 (795) (344)
Mortgage servicing rights (residential) — (3) 1,556 (6) 1,547
Net derivative assets and liabilities:
Interest rate contracts — — — (1,137) (1,137)
Commodity contracts — — — 6 6
Equity contracts 15 (103) — 6 (82)
Foreign exchange contracts — — — — —
Credit contracts 12 (3) — 158 167
Other derivative contracts — — — 1 1
Total derivative contracts 27 (106) — (966) (1,045)
Other assets 97 (20) — (25) 52
Short sale liabilities 21 (15) — — 6
Other liabilities (excluding derivatives) — — — 11 11
Wells Fargo & Company
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